As the exclusive Vietnam member firm of Multilaw, a leading global network of independent law firms, Tilleke & Gibbins contributed the Vietnam chapter to the organization’s Enforcement of Foreign Judgments Project. Vinh Quoc Nguyen and Loc Xuan Le of Tilleke & Gibbins in Vietnam were responsible for writing the chapter, which consists of two main sections.

Vietnam is well known as one of Asia’s fastest-growing economies, and a cornerstone of this growth is foreign direct investment (FDI). The Nikkei Asian Review noted that in 2018, FDI reached USD 19.1 billion—a sixth straight annual record.

Successive Thai governments have consistently emphasized the importance of improving Thailand’s standing as a foreign direct investment (FDI) destination, recognizing its significant impact on economic growth and stability, along with a host of other beneficial factors. This awareness, coupled with Thailand’s well-developed and modern legal framework, has persuaded many investors to identify Thailand as a business hub in Southeast Asia.

In recent years, remarkable reforms have been made to Myanmar’s legal, social, and economic commitments. The government has specifically focused on the liberalization of the market and the promotion of foreign direct investment—highlighted, for instance, by the Myanmar Investment Law (2016), and the Myanmar Companies Law (2017). The World Bank is projecting 6.5 percent growth in GDP in 2018–19, reflecting broad-based economic growth in the country.

Situated strategically between Cambodia, China, Myanmar, Thailand, and Vietnam, the small, landlocked country of Laos has strong potential to be a crossroads for foreign investment. While its more economically powerful neighbors attract the largest share of investment, the economic outlook of Laos is good and continues to grow at a steady and impressive clip—6.5 percent in 2018—with mining and natural resources leading the way. 

Cambodia’s steady, robust economic growth continues to draw foreign direct investment (FDI), in addition to increasing the purchasing power of the country’s population. The economy is diversifying as well, with investment expanding significantly beyond the garment industry and tourism sector. Both industry and construction are two sectors poised to make big gains in the coming year, and the economy as a whole is expected to maintain its impressive growth rate of approximately 7 percent.

Thailand caught the cannabis industry by surprise in January this year when it became the first Asian country to legalise medicinal cannabis, while at the same time restricting foreign participation in the industry for at least the first five years and thwarting cannabis-related patent applications.

Most of the operators in the petroleum or oil and gas industries are large international companies that correspond and coordinate with their parent companies or contractors, subcontractors, suppliers or vendors who are based around the globe. In addition, such petroleum or oil and gas operators may employ a significant number of employees, and therefore, they may need to collect, use or disclose personal data relating to their contracting parties, or their employees, in their business operations.